Genworth Financial (NYSE:GNW) Sets New 52-Week High – Time to Buy?

Genworth Financial, Inc. (NYSE:GNW) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $9.65 and last traded at $9.5450, with a volume of 3206493 shares. The stock had previously closed at $9.47.

Wall Street Analysts Forecast Growth

GNW has been the subject of a number of research reports. Zacks Research upgraded Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Keefe, Bruyette & Woods upped their price objective on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Genworth Financial presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Genworth Financial Stock Up 0.8%

The company has a market cap of $3.66 billion, a price-to-earnings ratio of 18.36 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50 day simple moving average is $8.98 and its 200-day simple moving average is $8.74.

Genworth Financial (NYSE:GNW) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.10. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%. Sell-side analysts expect that Genworth Financial, Inc. will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Genworth Financial

In other Genworth Financial news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the transaction, the director directly owned 92,655 shares in the company, valued at $845,013.60. This trade represents a 35.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the transaction, the chief executive officer directly owned 5,368,883 shares in the company, valued at approximately $49,769,545.41. This represents a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Larson Financial Group LLC raised its stake in Genworth Financial by 12,597.7% during the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 5,543 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Genworth Financial during the second quarter valued at approximately $44,000. Atlas Wealth LLC bought a new stake in Genworth Financial in the first quarter valued at $51,000. Danske Bank A S bought a new stake in shares of Genworth Financial in the 3rd quarter worth about $60,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Genworth Financial by 124.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock worth $65,000 after buying an additional 3,966 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Company Profile

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.